Hong Kong’s John Lee pledges support for SMEs, says economy expected to improve in 2025
- City leader holds first town hall meeting for coming policy address, with 120 residents attending closed-door event
Hong Kong’s leader has pledged to boost support for struggling small and medium-sized enterprises (SMEs) amid a challenging environment and looming external uncertainties, while expressing optimism the city’s economy will improve next year.
The two-hour televised event was attended by 120 residents from various backgrounds who were invited by authorities.
Dozens spoke at the meeting including a securities industry worker surnamed Law who expressed concern that bankruptcies among brokerage firms had reached a double-digit figure in recent years and questioned whether government efforts to attract foreign investment had yielded results.
Another attendee, a manufacturing industry employee named Yip, asked if low-interest financing schemes were available to help firms when banks adopted a “conservative and passive” approach to lending.
Lee said when concluding the session: “We estimate the economy will perform better next year. Those betting against Hong Kong in the long run will be the first to lose.
